Shanghai, Feb 1, 2026, 08:11 (GMT+8) — Market closed
- Shares ended Friday at 590.01 yuan, slipping 0.01%.
- On Feb. 6, shareholders will vote on the company’s 2026 cap for related-party transactions.
- China’s official PMI for January fell below the 50 mark again, signaling contraction and refocusing attention on the broader macroeconomic picture.
Moore Threads Technology Co. Ltd. Class A shares closed Friday on the Shanghai Stock Exchange’s STAR Market nearly unchanged, slipping just 0.01% to 590.01 yuan. The stock has dropped 5.43% over the last five sessions, with onshore markets closed Sunday.
The Beijing-based GPU designer remains a recent addition to the market, with investors often responding swiftly to any filings concerning governance or supply chains. One of those key moments arrives next week.
This matters since the stock acts as a stand-in for China’s chip self-sufficiency drive, though tech sentiment has been jittery. When the macro landscape shifts, these shares can swing sharply.
Moore Threads announced in an exchange filing that its first extraordinary shareholders meeting of 2026 is set for Feb. 6 in Beijing, with online voting available via the Shanghai Stock Exchange system. The sole agenda item is to approve the company’s 2026 cap on “daily related-party transactions,” referring to deals with entities connected to Moore Threads. The share register date is slated for Jan. 30, according to the notice.
A separate filing set the 2026 order cap at roughly 1.48 billion yuan, encompassing purchases of materials, assets, and technical services from related parties. The company reported about 1.67 billion yuan in such orders for 2025, having budgeted around 2.24 billion yuan that year. It also requested an exemption from disclosing counterparties, citing commercial confidentiality.
Related-party limits are standard on the mainland, but they carry extra weight for young hardware companies still shaping their supply chains and pushing for scale. Investors usually focus first on the cap, then dig into the actual figures for clues on pricing and who holds the leverage.
China’s official manufacturing PMI slipped to 49.3 in January, down from 50.1 in December, falling below the crucial 50 threshold that marks expansion versus contraction, according to the National Bureau of Statistics on Saturday. Ting Lu, Nomura’s chief China economist, warned that “Beijing will have to do much more” to keep annual growth above 4.5% in 2026. The private-sector PMI is set for release on Feb. 2. Reuters
The STAR 50 index closed Friday with a modest 0.12% gain, bouncing back from a steep 3% plunge the previous session. This sharp reversal highlights the choppy trading environment. Chip-related stocks remain tightly constrained amid the volatility.
Moore Threads went public on Dec. 5, announcing it wasn’t yet turning a profit and slotting itself in the STAR growth tier. It flagged that just around 29.4 million shares, or 6.25% of its total stock, would be freely tradable initially. The company pointed to Hygon Information, Cambricon, and Nvidia as its valuation benchmarks.
However, the Feb. 6 vote might not resolve investor concerns about how procurement prices align with the wider market, particularly when counterparties remain unnamed. Meanwhile, softer activity data could weigh on richly valued chip stocks and tighten the grip on newer listings that have limited free float.
Monday’s open will reveal if the PMI shortfall rattles STAR trading once more. As for Moore Threads, the next major event is the shareholder meeting on Feb. 6, where any resistance to the related-party cap could stir things up.
